Malaysian King’s Son Taps Billionaire Peter Lim’s RSP Architects To Build $200 Million Estate

RSP Architects Chairman Kiat Lim (left) and Ismail Ibrahim, the Regent of Johor.

Courtesy of RSP Architects

Singapore-based RSP Architects, Planners and Engineers, a design firm owned by Singaporean billionaire Peter Lim, said it has been tapped by Ismail, the Regent of Johor (ROJ), to develop a sprawling waterfront estate, which will be the royal family’s private residence, in the coastal town of Desaru in southeastern Malaysia.

“This collaboration carries special meaning, shaped by years of mutual respect and understanding between our families,” Kiat Lim, 32, chairman of RSP Architects and son of healthcare tycoon Peter Lim, said in a statement. “To help bring such a significant and personal project to life on this iconic stretch of coastline is a rare privilege.”

Costing over $200 million to develop, the residential estate will be built across the royal family’s 27-hectare property in Desaru and is expected to take four years to complete, according to the statement. Apart from the royal family’s villa, it will have guest houses, a kids’ club and sporting facilities. It will also have an underground shooting range and armory to accommodate up to 100 soldiers serving in the ROJ’s security.

“This residence is more than a home,” Ismail, 41, the eldest son of Malaysian King Ibrahim Iskandar, said in the statement. “It’s a reflection of family, heritage and partnership. The collaboration with RSP is built not just on design excellence, but on the close family relationship I’ve shared with Kiat and his father.” Kiat and the Regent share a passion for football. Kiat heads Spanish football club Valencia, while Ismail is the president of the Football Association of Malaysia.

The royal family owns huge tracts of land in the Iskandar region in the southern Malaysian state of Johor, an area which Malaysia and Singapore are jointly developing as a special economic zone. The ROJ oversees the development of his family’s heritage properties.

In June, the ROJ agreed to exchange 13 hectares of his family’s land across Singapore Botanic Gardens for a nearby 8.5-hectare state land of equivalent value, according to the Urban Redevelopment Authority. “The Singapore government and the ROJ have agreed to undertake a land swap, so that the ROJ’s planned developments will be further away from the Singapore Botanic Gardens,” URA had said then.

Past projects of RSP Architects include the Jewel at Changi Airport (in collaboration with Safdie Architects) and the Armani Hotel & Residences Diriyah in Saudi Arabia. Revenue is expected to exceed S$100 million this year, up from S$92 million in 2024. With a net worth of about $1.8 billion, Lim is among the wealthiest in Singapore with stakes in Singapore-listed hospital operator Thomson Medical and Spanish football club Valencia.